Commerzbank Securities has promoted both its global and U.S. heads of equity derivatives structuring heads. Roberto Vila, global head of equity derivatives structuring in London, is now top dog as global head of equity derivatives, while Ted Madara, head of U.S. equity derivatives structuring in New York, is heading equity derivatives for the U.S. Neither Vila nor Madara returned calls. Previously overall responsibility for equity derivatives had been shared among several staffers.
Omar Bayoumi, regional head of the Americas in New York, explained that Madara's structuring responsibilities had also required his working closely with the equity derivatives trading desk, making it a natural move to upgrade his role. The German firm plans to replace Madara as head structurer, as well as hire an additional two or three staffers for the desk. Commerz is in the process of adding a third-party distribution platform to its sales resources as well as increasing its emphasis on tailored and structured products, he added.
Madara reports jointly to Bayoumi and Vila while Vila continues to report to Mark Richardson, global head of derivatives in London. Richardson referred comment to Neil Brazil, spokesman in London, who did not return calls by press time.
